Financial & Tax Accounting for Partnerships & LLCs
Total Credits: 4 including 4 Accounting - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Tax Institute | Accounting and Auditing
- Faculty:
- Steven C. Dilley, CPA, JD, PhD
- Course Levels:
- Intermediate
- Duration:
- 4 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities, with a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed.
This course does not qualify for IRS credit.
Basic Course Information
Major Subjects- Review of the AICPA financial reporting framework for small and medium-sized entities
- Integration of these financial reporting approaches with accounting for issues in the formation of partnerships and LLCs
- Financial accounting issues arising from changes in ownership of partnership and LLCs
- Financial vs. tax accounting for partnership/LLC capital accounts
- Review of Section 704(b) substantial economic effect rules and their relation to financial accounting
- The integration of financial accounting for partnerships/LLCs with the Form 1065
- Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests
- Deferred tax accounting for partnerships/LLCs
Learning Objectives
- Apply financial accounting in the partnership setting with special emphasis on accounting for capital accounts
- Identify the Accounting Standards Codification and OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs
Course Materials
| IMPORTANT_CPE Credit Instructions_Read Before Webcast_Updated_2_2025 (442.6 KB) | Available after Purchase | ||
| Financial & Tax Accounting for Partnerships & LLCs Handout (13.4 MB) | Available after Purchase | ||
Faculty
Steven C. Dilley, CPA, JD, PhD Related Seminars and Products
Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Dates
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Fri, May 09, 2025 - 11:00am to 02:37pm EDT
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Thu, May 29, 2025 - 01:00pm to 04:37pm EDT
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Tue, Jun 03, 2025 - 06:00pm to 09:37pm EDT
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Thu, Jun 12, 2025 - 05:00pm to 08:37pm EDT
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Mon, Jun 23, 2025 - 09:00am to 12:37pm EDT
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Wed, Jul 09, 2025 - 11:00am to 02:37pm EDT
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Tue, Jul 29, 2025 - 01:00pm to 04:37pm EDT
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Sat, Aug 09, 2025 - 03:00pm to 06:37pm EDT
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Wed, Aug 27, 2025 - 05:00pm to 08:37pm EDT
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Wed, Sep 10, 2025 - 09:00am to 12:37pm EDT
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Tue, Sep 23, 2025 - 11:00am to 02:37pm EDT
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Thu, Oct 09, 2025 - 01:00pm to 04:37pm EDT
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Tue, Oct 28, 2025 - 06:00pm to 09:37pm EDT
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Mon, Nov 03, 2025 - 05:00pm to 08:37pm EST
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Tue, Nov 18, 2025 - 09:00am to 12:37pm EST
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Tue, Dec 02, 2025 - 11:00am to 02:37pm EST
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Fri, Dec 12, 2025 - 01:00pm to 04:37pm EST
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Tue, Dec 23, 2025 - 03:00pm to 06:37pm EST
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Fri, Jan 09, 2026 - 05:00pm to 08:37pm EST
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Tue, Jan 20, 2026 - 09:00am to 12:37pm EST
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Sat, Feb 07, 2026 - 11:00am to 02:37pm EST
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Mon, Feb 23, 2026 - 01:00pm to 04:37pm EST
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Fri, Mar 06, 2026 - 03:00pm to 06:37pm EST
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Tue, Mar 24, 2026 - 07:00pm to 10:37pm EDT
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Tue, Apr 07, 2026 - 09:00am to 12:37pm EDT
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Wed, Apr 22, 2026 - 11:00am to 02:37pm EDT
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Additional Info
Basic Course Information
Prerequisites Basic working knowledge of financial accountingAdvanced Preparation
None
Designed For CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current
Original Recording Date 04/2025
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 03/11/2025
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.